Results looks good.
Spectacular.
"Profit attributable to shareholders of the parent company up 25 per cent to
US$10,895 million" - Above and beyond expectation
"Loan impairment charges and other credit risk provisions were US$6,346 million in the first half of 2007, US$2,456 million higher than the first half of 2006" - Yes... Much more in provisions than expectation, and yes, even with such high provisions, PROFIT still beat like crazy. Shit.
Well, pretty much have my ass handed to me on results.
Waiting for guidance.
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1) stop saying "一注獨沽xxx". this is grammatically problematic. how can you 一注獨沽 on three different things? (silver, hutch and hsbc)
ReplyDelete2) talk to tony of Next more about HSBC. maybe you are right about its exposure in sub-prime, but have you calculated the relative exposure to subprime to its cashflow from elsewhere?
but i have to come clean for myself first, as i bought 400 shares this morning :)
good call sun...
ReplyDeletegood call...
I on the other hand...
*sigh*
not really a good. i was just trying some hypothesis i had ...
ReplyDeletethe management usually deliberately mislead the analyst so that they can beat the forecast.
hsbc has such track record -- tony measor said that. and i think he is a pretty solid investor.